Guptacoin is setup to be the first and foremost cryptocurrency dedicated
to the Indian market. The goal is to enable the people of India to use
Guptacoin as a token of value that is no longer controlled by a central
entity.

We plan to airdrop 250 – 1,000 Guptacoins (GPT) to each
citizen of India by means of SMS verification. 65% (1,300,000,000 GPT)
of all coins are reserved for this.

Apart from the reserved
airdrop coins we have 25% (500,000,000 GPT) reserved for the miners. The
coin will be based upon 3 algorithms that are all ASIC resistant and
thus environmentally friendly. The total mining time is set to 31,7
years. After that we expect the network to run on fees.

We also
want to encourage people to become part of the decentralized network by
setting up their own nodes for as little as $15. The more nodes we have
to run the network, the more secure, stable and fast transactions take
place. We want to setup a reward program to those who run nodes by
offering 25 GPT per month (or the rational equality of the actual up time). For this we have reserved 7% (140.000.000 GPT).

The remaining 3% (60,000,000 GPT) is reserved for development costs and incentives.

Mining algorithms :

Qubit (CPU/GPU only)Skein (CPU/GPU only)Groestl (CPU/GPU only)

There are some excellent ideas here.

First, a coin dedicated to
the Indian market is a huge opportunity. I don't know enough about
different cryptos to know if there are other coins targeting India (I'd
be surprised if there aren't already people trying this) but India's
bureaucracy is heavy. This may be an area ripe for the kind of
decentralization cryptos bring.

Second, airdroping via SMS is a
great idea. There are actually a lot of charities that seek to bring
mobile technology (e.g. via mesh networks) to poor and rural areas of
India, because many consider mobile technology to be the key to
unlocking the potential of these areas, especially when telecom is
already huge in urban India. Any opportunity to interface with the coin
via SMS will make it accessible to Indians and tie it to the existing
projects that want to use phones to empower rural India.

Third, I'm a fan of ASIC resistance in general, though that's a person preference.

Any idea when you might be providing more detail? Are we talking days? Weeks?